Jazan Development Co. (JAZADCO) has prepared a plan to adopt International Financial Reporting Standards (IFRS) by November 30, 2016, the company said in a statement to Tadawul on Monday.
Jazadco hired an external advisor for the transition, while an internal team was appointed to monitor overall progress.
The company added that the first IFRS-based financial statements reflecting Q1-2017 will be issued on March 31 of the same year.
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